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Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2018

Disaggregation of Revenue [Line Items]

Condensed statements of operations by reporting segment

	Three Months Ended March 31, 2018
	Investment				Automotive				Energy				Railcar				Gaming				Metals				Mining				Food Packaging				Real Estate				Home Fashion				Holding Company				Consolidated
	(in millions)
Revenues:
Net sales	$	—			$	2,614			$	1,537			$	64			$	—			$	118			$	20			$	97			$	1			$	42			$	—			$	4,493
Other revenues from operations	—				128				—				52				224				—				—				—				16				—				—				420
Net gain from investment activities	410				—				—				1				—				—				—				—				—				—				22				433
Interest and dividend income	18				1				—				—				1				—				—				—				5				—				3				28
Other income (loss), net	—				8				61				6				—				1				—				(6		)		—				—				1				71
	428				2,751				1,598				123				225				119				20				91				22				42				26				5,445
Expenses:
Cost of goods sold	—				2,127				1,430				58				—				110				17				77				1				36				—				3,856
Other expenses from operations	—				112				—				29				104				—				—				—				10				—				—				255
Selling, general and administrative	1				478				32				9				94				5				6				15				1				9				6				656
Restructuring, net	—				—				—				—				—				—				—				—				—				2				—				2
Impairment	—				—				—				—				—				—				—				—				—				—				—				—
Interest expense	26				47				27				5				1				—				2				4				1				—				84				197
	27				2,764				1,489				101				199				115				25				96				13				47				90				4,966
Income (loss) before income tax (expense) benefit	401				(13		)		109				22				26				4				(5		)		(5		)		9				(5		)		(64		)		479
Income tax (expense) benefit	—				1				(17		)		(6		)		(7		)		—				(1		)		2				—				—				(28		)		(56		)
Net income (loss)	401				(12		)		92				16				19				4				(6		)		(3		)		9				(5		)		(92		)		423
Less: net income (loss) attributable to non-controlling interests	240				3				37				5				3				—				(2		)		—				—				—				—				286
Net income (loss) attributable to Icahn Enterprises	$	161			$	(15	)		$	55			$	11			$	16			$	4			$	(4	)		$	(3	)		$	9			$	(5	)		$	(92	)		$	137
Supplemental information:
Capital expenditures	$	—			$	137			$	20			$	19			$	23			$	1			$	13			$	5			$	1			$	1			$	—			$	220
Depreciation and amortization(1)	$	—			$	127			$	68			$	15			$	19			$	5			$	2			$	7			$	5			$	2			$	—			$	250

	Three Months Ended March 31, 2017
	Investment				Automotive				Energy				Railcar				Gaming				Metals				Mining				Food Packaging				Real Estate				Home Fashion				Holding Company				Consolidated
	(in millions)
Revenues:
Net sales	$	—			$	2,477			$	1,507			$	61			$	—			$	103			$	33			$	90			$	1			$	47			$	—			$	4,319
Other revenues from operations	—				108				—				133				217				—				—				—				17				—				—				475
Net loss from investment activities	(128		)		—				—				—				—				—				—				—				—				—				(2		)		(130		)
Interest and dividend income	26				—				—				—				1				—				—				—				—				—				2				29
Other (loss) income, net	(41		)		7				12				1				(2		)		—				(2		)		(1		)		—				—				—				(26		)
	(143		)		2,592				1,519				195				216				103				31				89				18				47				—				4,667
Expenses:
Cost of goods sold	—				1,992				1,419				55				—				96				17				68				1				40				—				3,688
Other expenses from operations	—				99				—				43				101				—				—				—				11				—				—				254
Selling, general and administrative	2				425				36				14				102				5				6				15				2				10				4				621
Restructuring, net	—				7				—				—				—				—				—				—				—				—				—				7
Impairment	—				6				—				—				—				—				—				—				2				—				—				8
Interest expense	47				40				27				19				3				—				2				3				—				—				82				223
	49				2,569				1,482				131				206				101				25				86				16				50				86				4,801
(Loss) income before income tax (expense) benefit	(192		)		23				37				64				10				2				6				3				2				(3		)		(86		)		(134		)
Income tax benefit (expense)	—				7				(9		)		(12		)		(14		)		—				—				(1		)		—				—				3				(26		)
Net (loss) income	(192		)		30				28				52				(4		)		2				6				2				2				(3		)		(83		)		(160		)
Less: net (loss) income attributable to non-controlling interests	(169		)		3				11				4				7				—				1				1				—				—				—				(142		)
Net (loss) income attributable to Icahn Enterprises	$	(23	)		$	27			$	17			$	48			$	(11	)		$	2			$	5			$	1			$	2			$	(3	)		$	(83	)		$	(18	)
Supplemental information:
Capital expenditures	$	—			$	111			$	24			$	59			$	22			$	2			$	9			$	3			$	—			$	1			$	—			$	231
Depreciation and amortization(1)	$	—			$	121			$	67			$	18			$	18			$	5			$	1			$	6			$	5			$	2			$	—			$	243

⁽¹⁾  Excludes amounts related to the amortization of deferred financing costs and debt discounts and premiums included in interest expense in the amounts of $2 million and $5 million for the three months ended March 31, 2018 and 2017, respectively.

Condensed balance sheets by reporting segment

	March 31, 2018
	Investment				Automotive				Energy				Railcar				Gaming				Metals				Mining				Food Packaging				Real Estate				Home Fashion				Holding Company				Consolidated
	(in millions)
ASSETS
Cash and cash equivalents	$	20			$	278			$	420			$	100			$	119			$	17			$	13			$	54			$	29			$	1			$	199			$	1,250
Cash held at consolidated affiliated partnerships and restricted cash	587				5				—				19				16				5				—				1				2				8				—				643
Investments	7,518				312				83				22				23				—				—				—				—				—				406				8,364
Accounts receivable, net	—				1,511				179				33				10				60				8				76				3				34				—				1,914
Inventories, net	—				2,776				424				73				—				29				30				99				—				66				—				3,497
Property, plant and equipment, net	—				3,570				3,168				1,202				809				108				198				170				437				71				—				9,733
Goodwill and intangible assets, net	—				1,952				293				7				74				3				—				36				26				—				—				2,391
Other assets	1,270				627				138				31				95				18				23				97				390				5				12				2,706
Total assets	$	9,395			$	11,031			$	4,705			$	1,487			$	1,146			$	240			$	272			$	533			$	887			$	185			$	617			$	30,498
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	959			$	2,875			$	1,085			$	268			$	86			$	52			$	49			$	90			$	46			$	37			$	490			$	6,037
Securities sold, not yet purchased, at fair value	299				—				—				—				—				—				—				—				—				—				—				299
Due to brokers	38				—				—				—				—				—				—				—				—				—				—				38
Post-employment benefit liability	—				1,072				—				8				—				2				—				79				—				—				—				1,161
Debt	—				3,499				1,167				539				137				1				58				271				21				9				5,506				11,208
Total liabilities	1,296				7,446				2,252				815				223				55				107				440				67				46				5,996				18,743
Equity attributable to Icahn Enterprises	3,214				3,419				1,134				419				782				185				143				69				820				139				(5,379		)		4,945
Equity attributable to non-controlling interests	4,885				166				1,319				253				141				—				22				24				—				—				—				6,810
Total equity	8,099				3,585				2,453				672				923				185				165				93				820				139				(5,379		)		11,755
Total liabilities and equity	$	9,395			$	11,031			$	4,705			$	1,487			$	1,146			$	240			$	272			$	533			$	887			$	185			$	617			$	30,498

	December 31, 2017
	Investment				Automotive				Energy				Railcar				Gaming				Metals				Mining				Food Packaging				Real Estate				Home Fashion				Holding Company				Consolidated
	(in millions)
ASSETS
Cash and cash equivalents	$	17			$	367			$	482			$	100			$	105			$	24			$	15			$	16			$	30			$	—			$	526			$	1,682
Cash held at consolidated affiliated partnerships and restricted cash	734				4				—				19				16				5				—				2				2				4				—				786
Investments	9,532				324				83				23				23				—				—				—				—				—				384				10,369
Accounts receivable, net	—				1,406				178				44				11				40				10				78				3				35				—				1,805
Inventories, net	—				2,601				385				54				—				33				30				92				—				66				—				3,261
Property, plant and equipment, net	—				3,503				3,213				1,199				808				110				188				170				438				72				—				9,701
Goodwill and intangible assets, net	—				1,963				298				7				74				3				—				36				29				—				—				2,410
Other assets	516				541				61				41				102				11				22				93				390				6				4				1,787
Total assets	$	10,799			$	10,709			$	4,700			$	1,487			$	1,139			$	226			$	265			$	487			$	892			$	183			$	914			$	31,801
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	1,302			$	2,770			$	1,125			$	254			$	104			$	41			$	45			$	98			$	46			$	34			$	190			$	6,009
Securities sold, not yet purchased, at fair value	1,023				—				—				—				—				—				—				—				—				—				—				1,023
Due to brokers	1,057				—				—				—				—				—				—				—				—				—				—				1,057
Post-employment benefit liability	—				1,075				—				8				—				2				—				74				—				—				—				1,159
Debt	—				3,470				1,166				546				137				1				58				273				22				5				5,507				11,185
Total liabilities	3,382				7,315				2,291				808				241				44				103				445				68				39				5,697				20,433
Equity attributable to Icahn Enterprises	3,052				3,234				1,098				428				761				182				138				28				824				144				(4,783		)		5,106
Equity attributable to non-controlling interests	4,365				160				1,311				251				137				—				24				14				—				—				—				6,262
Total equity	7,417				3,394				2,409				679				898				182				162				42				824				144				(4,783		)		11,368
Total liabilities and equity	$	10,799			$	10,709			$	4,700			$	1,487			$	1,139			$	226			$	265			$	487			$	892			$	183			$	914			$	31,801

Automotive Segment

Disaggregation of Revenue [Line Items]

Disaggregation of revenue

	Three Months Ended March 31, 2018
	Federal-Mogul				Icahn Automotive				Automotive Segment
	(in millions)
Automotive parts to original equipment manufacturers and servicers	$	1,526			$	—			$	1,526
Aftermarket automotive parts and tires	530				542				1,072
Automotive services labor	—				128				128
Other net sales	—				16				16
	$	2,056			$	686			$	2,742

	Three Months Ended March 31, 2017
	Federal-Mogul				Icahn Automotive				Automotive Segment
	(in millions)
Automotive parts to original equipment manufacturers and servicers	$	1,386			$	—			$	1,386
Aftermarket automotive parts and tires	562				529				1,091
Automotive services labor	—				108				108
Other net sales	—				—				—
	$	1,948			$	637			$	2,585

Energy Segment

Disaggregation of Revenue [Line Items]

Disaggregation of revenue

	Three Months Ended March 31,
	2018				2017
	(in millions)
Petroleum products	$	1,457			$	1,422
Nitrogen fertilizer products	80				85
	$	1,537			$	1,507

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=82913847&loc=SL49130545-203045

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